Building Details

Year Built 1930

Tenancy Multi

Listing Agency: Charis Realty Group h***@charisrealty.com Show Phone

Listed By: Stephen MacGray · License #652984 Show Phone

Source: Cummingsrealtors

Added: Jul 4 Changed: Sep 15 Last Checked: Sep 15 at 7:00AM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Charis Realty Group

Investment Insights

Based on property information with market context.

This well-maintained duplex includes two separate 2-bedroom, 1-bath units. Both units are fully leased and currently generate gross rent. The property was renovated approximately 13 years ago, and each unit offers a functional floor plan with comfortable living space. A rear porch is included for each unit, overlooking a wooded setting.

The property is located on Mcmullen Highway SW in Cresaptown, Maryland, within a small community setting. Public remarks indicate the area supports consistent rental demand due to proximity to a major employer.

As an income-producing asset, the duplex provides two independently rented units under one ownership, with the benefit of existing occupancy at the time of sale.

Key Highlights

• Duplex built in 1930 with two 2‑bedroom, 1‑bath units
• Both units are fully leased, generating $1,100 per month in gross rent each
• Renovated approximately 13 years ago, with updated interiors

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$11,277

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

4.80%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$225,540 $225.5K

Cap Rate 7%

$161,100 $161.1K

Cap Rate 9%

$125,300 $125.3K

Market Conditions

NOI Build-Up for 1,666 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$17.0K $10.20/SF

− Vacancy

−$884 −$0.53/SF

EGI

$16.1K $9.67/SF

− OpEx

−$4.8K −$2.90/SF

NOI

$11.3K $6.77/SF

Area

Allegany County, MD

Vacancy

5.20%

Lease Rate

$10.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$225,540

Cap Rate 7%

$161,100

Cap Rate 9%

$125,300

Alternative Uses

Best Use

Multifamily LT 5

$161.1K

$141.0K – $188.0K (±1% cap)

NOI $11,277 @ 7.0% cap · market cap 4.80%

Second Best

Apartment 5plus

$149.2K

$130.6K – $174.1K (±1% cap)

NOI $10,446 @ 7.0% cap · market cap 4.45%

Theoretical Best

Office A

$617.8K

$540.6K – $720.8K (±1% cap)

NOI $43,249 @ 7.0% cap · market cap 18.40%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Duplexes

Suggested Use

Top Pick Dental Office Grocery & Convenience Store (Bike/Boat/Book/etc) Store Auto Repair Shop Skin Care Clinic Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

108

Businesses Nearby

Explore this area Business Placement

Demographics for 21502, MD

41,153

Population

19,562

Households

2.1

Avg Household Size

44

Median Age

20%

College-Educated

89%

High-School Grad

92.1 sq mi

ZIP Area

447

Density / Sq Mi

$58,721

Median Household Income

$39,507

Median Earnings

$771

Median Rent

$151,400

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Well-maintained duplex with two fully leased 2-bedroom, 1-bath units and renovated interiors.

Where is this duplex located?

The property is located at 15820 MCMULLEN HIGHWAY SW Cresaptown, MD.

What is the asking price?

The asking price for this property is $235,000.

What are key features of this property?

This property features: Duplex built in 1930 with two 2‑bedroom, 1‑bath units; Both units are fully leased, generating $1,100 per month in gross rent each; Renovated approximately 13 years ago, with updated interiors